CBRE announced today it executed the lease of a 50,328 square-foot industrial warehouse space at Centergate at Gratigny II in Hialeah. Located at 5801 East 10th Avenue, the space includes 2,499 sq. ft. of office, 47,829 sq. ft. of warehouse space and 14 dock positions.
CBRE’s Devin White, David Albert, Andrew Fernandez, Tom O’Loughlin and Larry Genet arranged the lease on behalf of ownership.
“In order to accommodate the tenant’s immediate needs, we were able to complete a deal within two weeks. Because we had just completed the spec office, we won the deal,” said White, Senior Vice President at CBRE.
The tenant, Purox Brands Corp, was represented by Gabrielle Levin of United Realty Group and will be occupying the property immediately. The company offers a full range of products for personal care and household cleaning and disinfectant products.
With frontage on and great visibility from the Gratigny Expressway (SR 924), in the heart of Miami’s Hialeah submarket, Centergate at Gratigny features excellent access to key South Florida regional logistical infrastructure. Learn more about the property and other spaces for lease at cbre.us/centergateatgratigny.
According to CBRE’s Q2 2020 Miami Industrial MarketView, the average asking rate in the Hialeah submarket was $9.51 per sq. ft. and the total vacancy was 3.3 percent. Fueled by e-commerce growth, annual net industrial absorption will total more than 333 million sq. ft. by 2022, leading to annual rent growth of 5.7%, according to the latest CBRE estimates.